Paragon Drive Copy 9.0 Special Edition

I took advantage of Giveaway Of The Day and downloaded this software. Am I correct in assuming that if I have two hard drives installed, one partially full and the other new, that I can transfer all of the data, OS included, from the partial drive to the new drive easily? I plan on replacing the 40gb hard drive I have with an 80gb hard drive and thought this might be the answer. I have had the 40gb hard drive for years and still have plenty of space on it. In other words can someone please explain, in not a lot of detail, how this software works. Please keep the explanation simple so that I may understand, I can be rather dense at times. As always I appreciate all replies and would thank you in advance.